Prologis has completed the acquisition of the wholly owned real estate assets of Industrial Property Trust for approximately $4 billion in cash, including the assumption and repayment of debt.
Under the terms of the merger agreement, Prologis acquired IPT through its two U.S. co-investment ventures, split evenly between USLF and USLV. The portfolio comprises 37.5 million square feet and 236 properties, 96 percent of which are in existing Prologis markets. The transaction expands Prologis' position in key markets across the United States, including Southern California, the San Francisco Bay Area, Chicago, Atlanta, Dallas, Seattle and New Jersey.
